Debtors

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk [Video]

by Bloomberg Law on 5/22/2013

May 22 (Bloomberg) -- AMF Bowling Worldwide Inc. and Ahern Rentals Inc. are prime examples of the frothy market where junk-bond investors are fearless in the face of risk, as Bloomberg Law's Lee Pacchia and Bloomberg News...more

Bank Did Not Alter Right To Foreclose By Agreeing To Work With The Debtor After Bankruptcy Dismissal

by David Johnson | Winstead PC on 5/13/2013

In Branch Banking and Trust Company v. TCI Luna Ventures, LLC, BB&T appealed a temporary injunction order prohibiting it from foreclosing on two properties owned by TCI Luna. No. 05-12-00653-CV, 2013 Tex. App. LEXIS 1745...more

Credit Counseling and Debtor Education Requirements

by Jeff Field | Jeff Field & Associates on 5/13/2013

The U.S. Bankruptcy Code requires debtors to participate in a pre-filing credit counseling session and a subsequent pre-discharge debtor education course. The U.S. Department of Justice (DOJ) maintains a list of credit...more

Global Connection - May 2013: Ninth Circuit Strikes Down $45 Million Class Action Settlement and Issues Warning About Use of...

by Daniel Huitink | Snell & Wilmer L.L.P. on 5/9/2013

Citing a conflict of interest between class representatives and a class, the Ninth Circuit Court of Appeals recently invalidated a $45 million class action settlement that had previously been approved by the district court....more

Surprise! Where did this Judgment Come From?

by John Skiba on 5/7/2013

Probably half a dozen times per week I meet with someone who has been notified that their next check is going to be a quite a bit lighter – wage garnishment. If you are living paycheck to paycheck finding out your wages are...more

Debt Relief and Counseling Scams

by Jeff Field | Jeff Field & Associates on 5/2/2013

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 instituted a credit counseling requirement for debtors filing for bankruptcy protection. Credit counseling agencies sprang up quickly on the heels of this...more

Where Do Your Interests Lie Under Chapter 15 of the Bankruptcy Code? Determining a foreign debtor’s “center of main interests”...

by Eric R. Blythe, Kevin J. Walsh | Mintz Levin - Bankruptcy, Restructuring &... on 5/1/2013

When doing business with a foreign company, it is important to identify the company’s “center of main interests” (“COMI”) as creditors may find themselves bound by the laws of the COMI locale. If a company initiates...more

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

by Mark Chehi, Van Durrer | Skadden, Arps, Slate, Meagher & Flom LLP on 4/30/2013

Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more

Second Circuit Establishes Relevant Time Period for "Center of Main Interests" Determination Under Chapter 15 of the Bankruptcy...

by Rosanne Ciambrone, Rudolph J. Di Massa Jr, William Heuer, Ron Oliner | Duane Morris LLP on 4/29/2013

In Morning Mist Holdings Limited v. Krys (In re Fairfield Sentry Limited), Case No. 11-4376, 2013 WL 1593348 (2d Cir. April 16, 2013), the United States Court of Appeals for the Second Circuit (the "Second Circuit") held that...more

Wilbur Ross Says Results-Based System Can Curb Ch. 11 Fees

by Bernstein Shur on 4/26/2013

Law360, New York (December 03, 2012, 7:05 PM ET) -- An American Bankruptcy Institute commission designed to take stock of the state of Chapter 11 anticipates that any changes to the Bankruptcy Code would likely focus on the...more

A Story of Stock, Security and Simplicity Sacrificed Under French Law

by Brice Mathieu, Anker Sorensen, Andrew Tetley | Reed Smith on 4/25/2013

Introduction - In matters of security over personal property, France for a long time had a complex system of general and particular regimes. It had been hoped that legislative reform in this area, brought about by a...more

Seventh Circuit Holds That Debtor Cannot Circumvent Bankruptcy's Absolute-Priority Rule

by Winthrop & Weinstine, P.A. on 4/25/2013

Unless creditors accept a debtor's plan of reorganization, bankruptcy law requires the plan to provide for the payment in full of creditors before owners of the debtor receive anything on account of their equity interest....more

Bankruptcy Courts In Georgia And Florida Show Obedience To Eleventh Circuit Court Of Appeals And Reluctantly Begin To Allow Lien...

by Bryan Glover | Burr & Forman on 4/24/2013

Three bankruptcy courts within the Eleventh Circuit have recently issued opinions in which they have reluctantly allowed the debtor to entirely strip off the interests held by junior lienholders when the value of the real...more

Bond Consent Solicitation Payments - Court of Appeal Upholds Judgment in Azevedo & Another v Imcopa

by Michael Doran, Kevin Heverin, Stephen Phillips | White & Case LLP on 4/24/2013

In summer 2012, two important judgments were handed down on cases relating to bond consent solicitations. Although the consent solicitation techniques proposed by the debtor companies in each case were markedly different, at...more

Always Be Prepared: Forecasting a Business Partner's Financial Problems and How to Prepare

by Christopher Giaimo, Donald Workman | BakerHostetler on 4/19/2013

As the American economy continues to slog through the ongoing Great Recession, even financially sound companies face challenges due to the continued economic malaise. In particular, a company that works with suppliers,...more

Claims Trading From The Inside Out: Ninth Circuit BAP Holds That A Non-Insider Claimant's Vote On A Plan Is Not Discounted Merely...

by Michael Lauter | Sheppard Mullin Richter & Hampton LLP on 4/19/2013

In an unpublished decision in In re The Village at Lakeridge, LLC, BAP Nos. NV-12-1456 and NV-12-1474 (B.A.P. 9th Cir. Apr. 5, 2013), the United States Bankruptcy Appellate Panel of the Ninth Circuit held that a vote on a...more

Recent Court Decisions Hold That The Absolute Priority Rule Still Protects Creditors Of Individual Chapter 11 Debtors

by Daniel Gosch | Dickinson Wright on 4/18/2013

As the economic recovery continues to wind along through the up and down financial cycles that have been the hallmark of the last four years, there can be little doubt that some individuals historically on the higher end of...more

Burr Alert: Blowing The Cap Off Statutory Damages Under The FCCPA?: An Analysis Of Kahmeyer v. Federal Credit Corporation

by John Chiles, Kristin Peters | Burr & Forman on 4/15/2013

In Kahmeyer v. Federal Credit Corporation, the 13th Judicial Circuit in Hillsborough County, Florida released an opinion that has given new life to the argument that each violation of the Florida Consumer Collection Practices...more

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Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk [Video]

Bank Did Not Alter Right To Foreclose By Agreeing To Work With The Debtor After Bankruptcy Dismissal

Credit Counseling and Debtor Education Requirements

Global Connection - May 2013: Ninth Circuit Strikes Down $45 Million Class Action Settlement and Issues Warning About Use of...

Surprise! Where did this Judgment Come From?

Debt Relief and Counseling Scams

Where Do Your Interests Lie Under Chapter 15 of the Bankruptcy Code? Determining a foreign debtor’s “center of main interests”...

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

Second Circuit Establishes Relevant Time Period for "Center of Main Interests" Determination Under Chapter 15 of the Bankruptcy...

Wilbur Ross Says Results-Based System Can Curb Ch. 11 Fees

A Story of Stock, Security and Simplicity Sacrificed Under French Law

Seventh Circuit Holds That Debtor Cannot Circumvent Bankruptcy's Absolute-Priority Rule

Bankruptcy Courts In Georgia And Florida Show Obedience To Eleventh Circuit Court Of Appeals And Reluctantly Begin To Allow Lien...

Bond Consent Solicitation Payments - Court of Appeal Upholds Judgment in Azevedo & Another v Imcopa

Always Be Prepared: Forecasting a Business Partner's Financial Problems and How to Prepare

Claims Trading From The Inside Out: Ninth Circuit BAP Holds That A Non-Insider Claimant's Vote On A Plan Is Not Discounted Merely...

Recent Court Decisions Hold That The Absolute Priority Rule Still Protects Creditors Of Individual Chapter 11 Debtors

Burr Alert: Blowing The Cap Off Statutory Damages Under The FCCPA?: An Analysis Of Kahmeyer v. Federal Credit Corporation

I Have a Judgment, Now What?: Collecting and Enforcing a Money Judgment Through the Garnishment Process

Dechert OnPoint: NDNY Bankruptcy Court's Broad Interpretation of the Definition of "Interests" in 363 Sale

Litigation News -- April 2013

The Fair Debt Collection Practices Act—Hope on the Horizon for Debt Collectors?

New York Bankruptcy Court Adopts Expansive View of Section 363 Free and Clear Assets Sales

To Release Or Not to Release – If That Is the Question, What Is the Answer?

Lenders Beware -- Fifth Circuit has lowered the bar for cramdown plan confirmation

Bill on Bankruptcy: The Market's Unquenchable Thirst for Junk [Video]

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